The Week in Charts: Traffic trickles through Strait of Hormuz | Liner exodus accelerates as Middle East services crippled
The coordinated pullback by major lines signals a market entering a new phase of instability. With carriers prioritising vessel and crew safety and with no clarity on when the security situation might improve, shippers now face severely reduced capacity into and out of the MEG, higher costs, longer and less predictable transit times and complicated recovery operations for cargo discharged at unintended ports.
Vessels en route continued to divert at speed, with a series of abrupt course changes visible across the region.
Lloyd’s List Intelligence tracked numerous vessels performing impromptu course deviations, including the 10,100 teu Seaspan Ganges (IMO: 9630365), chartered to Maersk, which was previously bound for Jebel Ali, but has since been redirected to the Indian port of Pipavav, according to the Danish carrier’s service schedule.
Hormuz crisis ignites Chinese shipping stocks and futures
Chinese financial markets have been set alight by the Middle East conflict and the accompanying closure of the Strait of Hormuz, with shipping-related stocks and futures surging dramatically in the first two days of this week, reported APAC editor, Cichen Shen.
Shanghai container freight futures have hit their daily trading limits for two consecutive sessions, fuelled by disruption from the Hormuz blockade and carriers’ aggressive rate hikes.
On Tuesday last week, contracts spanning six months from April rose by the maximum permitted 18%, following Monday’s (March 2) 15% limit-up close. Trading volumes simultaneously surged to their highest levels since September last year.
The futures, traded on the Shanghai International Energy Exchange, reflect investor expectations for future China-North Europe freight rates. The daily limit caps for three consecutive sessions are set at 15%, 18% and 20% respectively.
China Cosco Shipping Corp, the world’s largest shipowner by fleet size, saw gains across almost all its listed shipping units on Tuesday, led by container arm Cosco Shipping Holdings and tanker unit Cosco Shipping Energy Transportation.
War zone GNSS interference surges across the Middle East Gulf
Incidents of Global Navigation Satellite System interference have surged in the Middle East Gulf and the Gulf of Oman since the onset of the war in Iran, with hundreds of vessels affected and the scale of disruption escalating rapidly, wrote senior reporter Ece Göksedef.
Lloyd’s List Intelligence vessel-tracking data shows 655 different cargo‑carrying ships appearing off the UAE ports of Dubai, Abu Dhabi and Fujairah since February 28, up from 276 on the first day of the war to 420 by March 2.
Many vessels had been hit multiple times, contributing to a total of 1,735 interference events, each typically lasting three to four hours.
Daily incidents more than doubled, rising from 350 when the conflict began to 672 by March 2.
About 600 GNSS‑jamming incidents involved vessels off the UAE, with more than 80 recorded off Iran, around 50 off Oman and about 10 off Qatar, highlighting how widespread the interference has become across the region.
UECC signs first vehicle carrier newbuild contract of 2026 following order slump
United European Car Carriers has confirmed newbuilding contracts for two mid-size car and truck carriers, marking the first vehicle carrier orders to be placed this year. The move follows a steep slowdown in ordering activity across the sector since 2024, reported markets editor, Rob Willmington.
The intra-European carrier, which is a joint venture between Japan’s NYK Line and Swedish shipowner Wallenius Marine, has contracted China Merchants Jinling Nanjing to build the ships. They will each have capacity for 3,000 ceu.
In October 2024, UECC ordered a pair of 4,500 ceu vehicle carriers at the same shipbuilder, which are due for delivery during 2028.
The latest newbuildings, developed in partnership with Shanghai Ship Research & Design Institute, will be fitted with LNG dual-fuel engines and will also have shore power capability.
They are also booked for delivery in 2028 and will feature a wider beam than earlier-generation ships of the same capacity to significantly reduce the need for ballast water.
Content Original Link:
" target="_blank">
